May 27, 2021
- A strong platform with a proven track record of high growth expands the offering in the $65 billion global packaged cakes and pastry category.
- The addition of differentiated brands, such as 7Days, generates $580 million in revenue in priority adjacent snacking categories such as croissants and baked rolls.
- Possibility of sharing benefits from procurement, manufacturing, and future growth between Chipita S.A. and Mondelez International
- Based on comprehensive synergies, the transaction will be immediately accretive to earnings per share upon closing.
Mondelez International, Inc. has announced the acquisition of Chipita S.A., a fast-growing key player in the Central and Eastern European croissants and baked snacks market.
Established 4 decades in Greece, Chipita S.A. generated approx $580 million of revenue in 2020 and has a proven track record of continues growth from its product range of croissant and baked brands that includes Fineti, 7Days and Chipicaoi.
Chipita S.A. has been the forerunner across the globe with its strong presence in innovation and manufacturing capabilities giving higher development and growth to the food industry.
“Welcoming Chipita S.A.’s delicious pastry products into the Mondelēz International family advances our strategy to become the global leader in broader snacking,” said Dirk Van de Put, Chairman & CEO of Mondelēz International. “Their iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”
Chipita S.A.’s products, manufactured in 13 plants and distributed in over 50 countries, reach two billion consumers. The acquisition will allow Mondelez International to offer a diverse bakery portfolio – biscuits, cakes, and now pastry – to meet rising consumer demand in this category.